Welcome To
Acadia Broadcasting NewsThe Latest and Greatest ContentYour Trusted Local Source


Property assessment notices in the mail

By Brad Perry Jan 16, 2024 | 6:31 AM

New Brunswick property owners are getting their 2024 assessments this week.

Provincial figures show the overall assessment base is up 10.4 per cent, or $8.4 billion.

Officials said the southeast region of the province saw some of the largest increases.

“We continue to experience another year of significant property assessment growth across New Brunswick,” Service New Brunswick Minister Mary Wilson said in a news release on Monday.

“This provincewide increase is due largely to a strong real estate market and new construction.”

A spike protection mechanism is in place for eligible owner-occupied residential properties with an assessment increase of more than 10 per cent.

In addition, a temporary property tax relief program continues for non-residential properties and apartment buildings with four units that had annual assessment increases greater than 10 per cent.

Both the spike protection mechanism and property tax relief program do not apply to properties that were recently sold and those with new construction or major improvements.

Property owners have until Feb. 15 to request a free review of their assessment online or by calling 1-888-762-8600.

Property tax notices showing the amount owing for provincial and local taxes will be mailed on March 1.